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Gold rebounded by 1 percent on Thursday as the euro bounce back from a six-week low touching the dollar after European Central Bank (ECB) chief Mario Draught indicated that further attention rate cuts in the euro zone are doubtful.Both the solitary currency and bullion prices had fallen previous in the day after the ECB reduced interest rates and delayed its bond-buying programmers in an effort to increase growth and inflation in the currency community. 

The ECB dropped its foremost refinancing rate to zero on Thursday, from 0.05 percent, while increasing its quantitative reduction asset-buying programmers to 80 billion euro ($88.7 billion) a month from 60 billion euro and wounding its leave rate to -0.4 percent from -0.3 percent. That originally sent the euro stridently lower, but the currency improved to a three-week high against the dollar after Draught said the bank did not wait for that it would be essential to cut rates additional. 

The consideration now turns to what the feed is going to do next week. Looking at the Fed futures market now, the currency seems to be on a September rate rise, which is fairly a modify from a couple of weeks ago." The Federal treasury March meeting was tipped last year as a probable point for the U.S. central bank to raise attention rates further, though that option has receded as financial market instability picked up and anxiety over global growth gained thrust. 

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